NYS Economy Added 39,800 Private Sector Jobs in February 2022

 

The Number of Private Sector Jobs in New York State Grew by 0.5% in February

 According to preliminary seasonally adjusted figures released today by the New York State Department of Labor, the number of private sector jobs in New York State increased over the month by 39,800, or 0.5%, to 7,888,300 in February 2022. By comparison, the number of private sector jobs in the U.S. increased by 0.5% in February 2022.

    New York State's private sector jobs (not seasonally adjusted) increased by 458,000, or 6.3%, over the year in February 2022. By comparison, the number of private sector jobs in the U.S. increased by 5.4% over the year.

   New York State's seasonally adjusted unemployment rate decreased from 5.3% to 4.9% in February 2022.

    The number of private sector jobs in New York State is based on a payroll survey of 18,000 New York businesses conducted by the U.S. Department of Labor’s Bureau of Labor Statistics (BLS). Monthly payroll employment estimates are preliminary and subject to revision as more complete data become available the following month. The BLS calculates New York State’s unemployment rate based partly upon the results of the monthly Current Population Survey (CPS) of approximately 3,100 households in the State.

Note: Seasonally adjusted data are used to provide the most valid month-to-month comparison. Non-seasonally adjusted data are valuable in year-to-year comparisons of the same month – for example, February 2021 versus February 2022.

Statewide Industry Employment

February 2022 – Seasonally Adjusted

• On a net basis, the total number of nonfarm jobs in the state increased by 30,600 over the month, while private sector jobs rose by 39,800, in February 2022.

• At the same time, the total number of nonfarm jobs in the nation increased by 678,000, while private sector jobs increased by 654,000.

NYS' Nonfarm Job Growth Lagged the Nation's

Over-the-Month % Change in Total Nonfarm & Private Sector Jobs, January – February 2022  

Total Nonfarm and Private Sector Jobs Increased in February 2022 Total Nonfarm and Private Sector Jobs (in 1000s), February 1990 – February 2022 Statewide Unemployment February 2022 – Seasonally Adjusted In February 2022, the statewide unemployment rate decreased from 5.3% to 4.9% New York City’s unemployment rate decreased over the month from 7.6% to 7.0%. Outside of New York City, the unemployment rate decreased from 3.6% to 3.4%, reaching its lowest level on record (current records date back to 1976). The number of unemployed New Yorkers decreased over the month by 36,500, from 498,700 in January to 462,200 in February 2022. NYS Unemployment Rate Fell by 0.4 Percentage Points in February 2022 Labor Force Statistics, February 2021, January - February 2022 The Labor Force and Number of Unemployed Fell in February 2022 Total Labor Force & Number of Unemployed, February 2010 - February 2022 NYS and US Unemployment Rate Decreased Unemployment Rate, NYS & US, February 2010 - February 2022 Unemployment Rate Fell in NYC and in Balance of State Unemployment Rate, NYC & BOS, February 2010 - February 2022